2023 MVR to SYP Historical Review
A comprehensive breakdown of exchange rate performance throughout the year 2023.
2023 MVR to SYP Performance & Market Timing Review
Analysis of key historical highlights and timing insights for 2023
During 2023, the MVR to SYP exchange rate experienced significant fluctuation. The market reached its absolute peak on November 13, valuing the pair at 164.7561. Conversely, the yearly low was recorded on September 28, dropping to 162.3606.
This high-to-low spread represents a total annual volatility of 2.3955 SYP. From a start-to-finish perspective, comparing the January average rate of 163.3192 to the December average rate of 163.4392, the exchange rate registered a net change of 0.07% (reflecting a strengthening trend).
Looking at year-over-year peak valuations, the 2023 high of 164.7561 was up 0.16% compared to the 2022 peak of 164.4864, indicating shifts in long-term support levels.
Comparing the value generated converting 5,000 MVR based on timing:
Trend Visualization
Monthly average fluctuations over the course of 2023.
MVR to SYP Seasonal Trends & Volatility Analysis
A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.
Seasonal Halves (H1 vs H2)
SeasonalThe average exchange rate in the first half of the year (H1: Jan–Jun) was 163.5794, compared to 163.3471 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.2323 points.
Volatility Range Comparison
VolatilityThe most volatile month in 2023 was November, with a trading range of 2.1328 SYP (High: 164.7561 / Low: 162.6233). On the other end, February was the most stable month, with a tight range of 0.2110 SYP (High: 163.7872 / Low: 163.5762).
Growth Streaks & Declines
TrendsBetween March and June, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 3 straight months. Conversely, the sharpest month-over-month decline occurred between August and September, when the average rate fell by 0.4741 points.
Same-Month Historical Baseline
YoY BaselineComparing the current year's strongest month average (November 2023: 163.5343) against the same month in 2022 (average: 163.1305), the exchange rate shifted by +0.4038 (+0.25%).
Monthly Breakdown
Statistical summary for each calendar month.
| Month | High | Low | Average |
|---|---|---|---|
| January | 163.7872 | 163.0454 | 163.3192 |
| February | 163.7872 | 163.5762 | 163.6435 |
| March | 163.7872 | 162.8869 | 163.4202 |
| April | 163.6827 | 163.0454 | 163.6011 |
| May | 164.2176 | 163.5762 | 163.7363 |
| June | 164.2176 | 163.5762 | 163.7559 |
| July | 164.1104 | 163.0454 | 163.4092 |
| August | 163.8963 | 163.1513 | 163.4468 |
| September | 163.4166 | 162.3606 | 162.9726 |
| October | 163.6827 | 163.0454 | 163.2805 |
| November | 164.7561 | 162.6233 | 163.5343 |
| December | 163.6827 | 163.1513 | 163.4392 |